Rodney Adler’s and Ray Williams’ sentences for their part in the HIH collapse have prompted Federal Treasurer Peter Costello to warn anyone attempting to breach corporate laws that they won’t get away with it.

Mr Costello says the sentences demonstrate criminal conduct in the corporate sphere will be investigated, prosecuted, and subject to heavy jail terms.

The Treasurer has reason to make the point: he says the collapse of HIH has used up more Federal Government resources than any other investigation in corporate history.

“This is a very powerful signal to corporate Australia about the importance that the Government places on upholding corporate law and the sentences which the courts are prepared to impose where people are found guilty,” he said.

Attorney-General Philip Ruddock says the sentences “should deter others from engaging in corporate fraud”.

“This… is a salutary lesson for people who might at other times contemplate being engaged in fraudulent corporate activity; they do carry significant penalties including custodial sentences,” he said.